Type of Program:
The New Entrant Farmer Loan Program provide financial assistance, in the form of loans, to persons entering into the agriculture sector. The program is designed to assist in the purchase of a farm and can complement other sources of lending such as Farm Credit Canada and other financial institutions.
Comments on Funding:
Funding takes the form of loans of up to 100% of the appraised value of security, to a maximum amount of $750,000. It can be amortized up to 20 years at provincial lending rate.
Payments will be as follows:
During the first 4 years of loan, the New Entrant client may apply for additional loan for expansion or improvement (not exceeding the maximum amount of $750,000).
When It Ends:
The applicant must:
Applicants must submit: